Chiliz (CHZ) is exhibiting potential signs of a trend reversal after a prolonged multi-year downtrend, according to market analysis. The token’s price remains in a downtrend, but selling pressure appears to be weakening. A notable 19% surge in open interest to $47.8 million reflects growing trader confidence in derivatives markets. Analysts suggest that if momentum continues, CHZ may target higher liquidity zones at $0.294 and the previous cycle high of $0.65.
The price of **Chiliz (CHZ)** is showing early signs that its long-term bearish trend may be approaching a turning point. Market structure is improving slightly as long-term selling pressure weakens after a multi-year downtrend.
At the time of writing, CHZ is trading at $0.027 with a 24-hour trading volume of approximately $116 million. The token’s market capitalization stands at around $283 million following a 3.1% gain over the last day.
Crypto analyst @TakeProfitNow revealed that the bear trend has been characterized by progressively weaker rallies from the cycle top. “The CHZ price outlook indicates that buying interest is waning and selling pressure is getting exhausted,” the analysis stated.
A key level to watch is the $0.138 zone, which has served as strong weekly resistance. A clear breakout above this point would improve the overall technical picture for CHZ. Beyond that, $0.294 marks a critical area where previous highs and trapped longs exist.
Derivatives data from Coinglass shows open interest surged nearly 19% to $47.8 million. Trading volume rose 42.53% to approximately $176 million, indicating increased market participation and liquidity.
